In the complex, fragmented world of government contracting, understanding the constantly-changing terminology can be a challenge. Government agencies and vendors frequently use inconsistent language when describing projects or requirements, making it difficult for vendors to identify potential projects for which they may be a good fit.
That’s why GovWin has recently implemented ontological tagging of government contracting opportunities – GovWin Smart Tags – in its market intelligence platform. Smart Tags close the gap and eliminate friction between agencies and vendors by using a unique, holistic approach to project classification, making it easier for users to discover more opportunities in the federal, state, local, and education markets.
“Government procurement vocabulary differs from agency to agency because no standardized structure currently exists,” said Jeff Soderquist, Sr. Research Analyst for GovWin. “GovWin Smart Tags rationalize this data so you can search for products and services using terminology that is familiar to get the results you are looking for.”
A Powerful Translation Tool for Government Contractors
No matter what industry they operate in, or whether they do business with federal, state, local, or education government agencies, businesses involved in government contracting generally share the same sets of goals when they are looking for new government bids and RFPs.
They need to find the maximum amount of leads in a variety of markets relevant to their business. They want to avoid needing to rely on entering a large list of complicated keyword strings when searching for projects. And they are always looking to save time by eliminating irrelevant leads in their search results, freeing up their teams to get to work on the next big project.
When searching for a solution to solve these problems, these businesses have the same goals in mind:
- Find government sales opportunities regardless of verbiage used
- Identify specific project types that are a good fit for their business
- Discover government leads, whether they are a direct request or part of a larger project
Smart Tags were designed to help contractors accomplish all of these goals. They are part of a unique and powerful classification schema that makes it easy to identify opportunities in any market. Smart Tags review the context of a project using a unique set of rules that determine the right categorization of a project – even if there are misspellings and vague titles within that project.
Early adopters of Smart Tags are already finding out how they can benefit from this unique approach to project classification. “Smart Tags are great! It’s made our research efforts much more efficient,” said Susan Powell, Business Development Group Manager at Artel, LLC.
Smart Tags are just the latest groundbreaking improvement made by GovWin to help businesses succeed in government sales. “The ontological tagging technology is a great example of the benefits of [GovWin IQ],” said Kevin Plexico, Senior VP of Information Solutions at Deltek. “This is the latest enhancement, with several more to come, delivering tremendous value and improvements to the GovWin IQ platform.”
Are you interested in discovering how Smart Tags work for yourself? Request a free trial of GovWin IQ today to learn how your business can benefit from smarter searches for government contracts.
